If an Oregon stock bank becomes insolvent or goes into voluntary or involuntary liquidation, the assets of the Oregon stock bank must be applied in the following order of priority:

1. (1) First, if collateral has been pledged under ORS 295.015 and assets have been pledged under ORS 709.030, to the benefit of those for whom the collateral and assets have been pledged;
2. (2) Second, to pay the expenses of liquidation;
3. (3) Third, to satisfy the amount due the depositors; and
4. (4) Fourth, to satisfy the amount due sellers of federal funds.

[Amended by 1973 c.797 §270; 1993 c.373 §1; 1997 c.631 §250; 1999 c.311 §5; 2015 c.244 §84]